New Jersey US Attorney Paul Fishman speaks during a press conference at the United States Attorney's Office, District of New Jersey, announcing the arrests of and charges against Garrett Bauer and Matthew Kluger.
Matthew Kluger, along with his associate Kenneth Robinson, were found making use of sensitive, confidential information about pending corporate deals to leverage millions in illicit profits be resorting to insider trading and making huge money amounting to more than $37 millions. Such frauds and other Wall Street corruptions are being investigated by U.S. Attorney’s Office in New Jersey headed by Paul J. Fishman, the state’s U.S. attorney.Now, this office works in close co-ordination with Securities and Exchange Commission on crimes/frauds related to securities market, in which Mr. Fisherman claims that his department has the required skill and expertise to handle. U.S.Attorney’s office on other occassions have accounced few of the largest frauds involving $930 million Ponzi scheme orchestrated by Nevin Shapiro, a once high-flying investor from Miami and “Operation Ironbound,” which charged 28 defendants in an extensive mortgage fraud. According to George S. Canellos, the director of the SEC’s New York regional office, Attorney’s office are very quick in their response on a given case. They are said to be reporting back on matters in less than 24 hours time.
Massive insider trading case reveals new focus by U.S. Attorney’s Office on white collar crime